South Dakota Codified Laws 1-33B-27. School district authorized to deposit proceeds related to energy savings contract into certain funds–Repayment from certain funds
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If a school district enters into an energy savings contract pursuant to chapter 1-33B, the school district may deposit the proceeds from any loan related to the energy savings contract into its general fund or its capital outlay fund. The school district may deposit money resulting from energy savings pursuant to an energy savings contract into its general fund or its capital outlay fund. The school district may repay the loan pursuant to an energy savings contract out of money in its general fund or its capital outlay fund.
Terms Used In South Dakota Codified Laws 1-33B-27
- Contract: A legal written agreement that becomes binding when signed.
Source: SL 2001, ch 13, § 1.